HomeMy WebLinkAboutCity Council Resolution 2006-458CITY OF PLYMOUTH
RESOLUTION NO. 2006-458
FINAL RELEASE OF FINANCIAL GUARANTEE
HOLLY CREEK 5TH ADDITION (96005)
WHEREAS, in accordance with the development contract dated April 1, 1997 Craig Scherber and
Associates, developer of Holly Creek 5th Addition (96005), has agreed to install certain improvements for
said development; and
WHEREAS, the developer has completed the street, utility and site grading as noted below; and
WHEREAS, the developer has requested a release of the required financial guarantee to reflect the
completed work;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the financial guarantee requirements are reduced as follows:
ITEM
Street Constriction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Landscaping
Wetland Buffer Monuments (42 x 20)
N [_]RP Pond Constriction
Street Signs (4 x 200)
Mitigation Pond
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL
CURRENT
NEW
AMOUNT
AMOUNT
AMOUNT
$ 112,828
$ -0-
$ -0-
54,656
-0-
-0-
76,811
-0-
-0-
53,471
-0-
-0-
7,800
1,000
-0-
12,500
-0-
-0-
840
-0-
-0-
3,723
-0-
-0-
800
-0-
-0-
2,800
2,800
-0-
124,547
-0-
-0-
-0-
-0-
-0-
3,400
-0-
-0-
54,501
456
-0-
$508,677
$ 4,256
$ -0-
That the required financial guarantee for the above items be reduced as detailed above from $4,256 to $0
(zero) to reflect the completed work. Letter of Credit No. 2041 may be released accordingly.
Resolution No. 2006-458
Holly Creek Stn Addition (96005)
Page 2 of 2
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items per
Section 8.1 of the approved development contract be reduced as follows:
ITEM
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash
Letter of Credit No. 623884
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
Adopted by the City Council on November 14, 2006.
$ 1,000 $ 1,000 $-0-
$27,500
-0-
$27,500 $ 27,500 $ -0-